From CNBC:

Local TV station owners like Sinclair, TEGNA, and EW Scripps saw huge drops in valuation after Disney, Warner Bros. Discovery, and Fox announced a new sports joint venture. Despite investor concerns, EW Scripps CEO Adam Symson believes the drop is overblown, claiming local ABC and Fox affiliates will be included in the cable bundle. The joint venture may work with local broadcast affiliate partners for a similar digital multichannel bundling, providing consumers with local news and sports.

The new bundle leaves out CBS and NBC, potentially putting those affiliates at risk. However, Symson believes investors have exaggerated the significance of the new product, as it may not be as appealing to sports fans without full access to their favorite games. FuboTV, another sports-focused bundle, has yet to reach 2 million subscribers, and Symson doubts the appeal of a smaller, more expensive bundle, questioning its value to the consumer proposition.

Symson sees the joint venture as potentially supportive of broadcast stations if the network affiliates are compensated for carriage. He views the new service as just another product among many that are essentially the same thing, adding that the bundling with Disney+, Hulu, and Max could potentially increase subscriber additions.



Read more: Wall Street misunderstands new sports joint venture